AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

Attock Petroleum Limited (PSX: APL) announced over three times increase in bottomline for 3QFY22 as well as 9MFY22 earnings in the first nine months of the fiscal year were also supported massively by growth in volumes as well as higher petroleum product prices and the high interest rate environment explained by rising volumes, inventory gains and product margins.

APL’s topline grew by 78 percent year-on-year in 9MFY22, while the revenue growth in 3QFY22 was 90 percent. The rise in revenue was due to rise in petroleum product prices as well as increase in volumes sold by the oil marketing company. APL’s volumetric sales 9MFY22 was 18 percent year-on-year led by retail fuels: petrol and diesel; volumetric growth was 27 percent year-on-year in 3QFY22.

The growth in gross margins for 9MFY22 was staggeringly high due to higher volumes as well as product prices and inventory gains versus inventory losses in the previous comparable period. APL witnessed growth in finance income during the period due to higher interest rate. However finance cost remained low due to low overdue payables during the period.

The last quarter of FY21 started the recovery in volumes for the OMC sector including APL with a rebound in economic activity including car sales, industrial activity, and agriculture output, along with continued restrictions on cross-border smuggling. The trend has continued as volumes have continued to grow as prices remained frozen in recent times. Overall, is in a better position as the OMC was able to increase market share during the period. However, with petroleum prices expected to rise, some decline in volumes could be expected in the last quarter of FY22.

Comments

Comments are closed.